OFAC FAQ (Current) # 661 - Executive Order 13850 "Blocking Property of Additional Persons Contributing to the Situation in Venezuela"

Date issued: Oct. 18 2023

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TURBOFAC Commentary (786 words)

[Update concerning trading in Venezuela-related securities. On 10-18-2023, OFAC issued broadened versions of Venezuela GL 3 and Venezuela GL 9, amended FAQ 661 and FAQ 662 accordingly, and issued FAQ 1136 to explain the significance of these changes. Refer to FAQ 1136, and comments thereto, for more information about Venezuela-related securities trading in general.

As it relates to this particular item, there were major changes between the 10-18-2023 version of this GL and the prior versions, but the changes all reflect the concurrent modifications to the GL 9. The prior version of the GL may still be of interpretive value given its descriptions of what is authorized by a GL broadly authorizing (with certain exclusions) "all transactions and activities" involving certain blocked issuer debt.

The comment below has not yet been amended to reflect OFAC’s 10-18-2023 actions]

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